Back in January I presented the argument that chocolate was income inelastic and thus recession-proof.
Well, it seems that theory is a bit overstated. Swiss bastion of sweet-brownness, Lindt & Sprungli, has announced it is closing two thirds of its US stores. It seems spoiling oneself is not as big a priority as some would have us think.
Tags: business, chocolate, Global Economic Crisis, income elasticity, International business, International retailing, Lindt & Sprungli, retail
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